International edition
September 18, 2020

Rhode Island profits from Super Bowl bets for the 1st time

Nevada sportsbooks mark 2nd highest Super Bowl handle and win

Nevada sportsbooks mark 2nd highest Super Bowl handle and win
This was the second Super Bowl since PASPA’s repeal by the Supreme Court in 2018.
United States | 02/05/2020

It is the 12th consecutive year Nevada sportsbooks have profited off the Super Bowl. In Rhode Island, they won $804,000 off a $5.5 million handle. New Hampshire’s newly-founded online sports gambling program raked in $2.31 million in bets. New Jersey sportsbooks reported a $4.2 million net loss on the $54.2 million bet on the Super Bowl, and Pennsylvania sportsbooks also saw a $3.3 million loss on the $30.7 million bet.

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evada sportsbooks won $18.7 million off $154.6 million in bets on Super Bowl LIV, according to figures released Tuesday by gaming control officials. The win was second only to the $19.67 million the books won in 2014, and it also marks the 12th consecutive year Nevada sportsbooks have profited off the Super Bowl.

The $18.7 million, or 12.1% win is behind only the $19.6 million Nevada sportsbooks won on Super Bowl XLVIII between the Seattle Seahawks and Denver Broncos, and the $154.6 million bet is just behind the record $158.5 million that was wagered on Super Bowl LII between the Philadelphia Eagles and New England Patriots. In 2019, the win was $10.8 million, or 7.4%, according to unaudited figures.

This was the second Super Bowl since PASPA’s repeal by the Supreme Court. A record $5.3 billion was bet with Nevada sportsbooks in 2019. "The overall picture in Nevada [since the Supreme Court decision] remains positive," Michael Lawton, senior research analyst for Nevada Gaming Control, told ESPN. "Nevada has set annual records in 10 consecutive years for sports pool volume and won $329.1 million in 2019, which is an all-time record and up 9.5% over last year. In fact, since 2010, sports betting volumes in Nevada have increased 92.6% or $2.555 billion."

Bettors had more success on the Super Bowl in some of the new states offering sports betting. New Jersey sportsbooks reported a $4.2 million net loss on the $54.2 million bet on the Super Bowl, although some of that loss can be attributed to promotions offered by Garden State bookmakers. 

Pennsylvania sportsbooks reported a $3.3 million loss on the $30.7 million bet on the Super Bowl. Almost 200,000 persons logged onto online sports wagering sites in Pennsylvania. Figures from previous NFL Sundays show the number of unique visitors on the Pennsylvania sports wagering websites was closer to 100,000.

Kip Levin, President and Chief Operating Officer of FanDuel, pointed to in-play wagering as a big factor in the book's Super Bowl loss in New Jersey. "With their knack of playoff comebacks, there was a lot of interest in the Chiefs when their odds peaked in the fourth quarter," Levin told ESPN. He emphasized, though, that FanDuel was still pleased with the betting interest on the Super Bowl, despite the loss. "I think we have a lot of years to go before revenue, instead of customer acquisition, is the primary metric for success on days like Super Bowl Sunday," Levin added.

Rhode Island sportsbooks fared better, winning $804,000 off $5.5 million bet on the Super Bowl, according to state lottery officials. Gamblers won $4.7 million when the Kansas City Chiefs rallied to beat the San Francisco 49ers, 31-20, leaving about $805,000 in revenue. The state, which gets 51% of sports betting profits, expects to clear at least $400,000 as bets are finalized. About 60,000 bets were placed on the game, including 75 bets of over $5,000. The largest winner is getting $133,000 on a $70,000 Chiefs bet.

Last year, football fans legally bet almost $6.5 million on the Super Bowl in Rhode Island. When the Patriots won, and covered the spread too, the state’s sportsbooks lost $2.35 million. Rhode Island, at that time, was the only New England state that allowed sports betting, making it a focal point for Patriots fans.

New Hampshire’s newly-founded online sports gambling program raked in $2.31 million in bets for the Super Bowl Sunday, building on what lottery officials and Gov. Chris Sununu have called a strong start. The online sports betting program, managed via DraftKings after a bidding process, has been up and running since late December. Created last year after being championed by Sununu, the program has so far attracted 34,800 registered users, who have collectively placed $20.8 million in bets, according to the state Lottery Commission.

The Oregon state lottery did not report a net result but said more than 90,000 bets totaling more than $2 million were placed on the Super Bowl between the Chiefs and 49ers.

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